Palomar Holdings, Inc. Reports Third Quarter 2026 Results
Palomar Holdings reported Q3 2026 net income of $65.3 million ($2.42 diluted EPS), up 27% YoY, with adjusted net income up 47.4% to $81.3 million ($3.01 adjusted diluted EPS). Gross written premiums rose 28.4% to a record $767.0 million, with growth across all five product categories, and net investment income increased 53.8% to $22.4 million. Management called it the 16th consecutive earnings beat and raised full-year 2026 adjusted net income guidance to $280-285 million. Offsetting the growth, the total loss ratio deteriorated to 41.5% from 32.3% a year ago, including $4.0 million of unfavorable prior-year Crop development, and the combined ratio rose to 80.8% from 78.1%.
Key figures
- Eps
- 2.42
- Guidance
- FY2026 adjusted net income $280 million to $285 million, including $8-12 million estimated catastrophe losses
- Buyback
- 70,000 shares repurchased for $8.9 million
- Gwp yoy
- 28.4%
- Loss ratio
- 41.5%
- Adjusted eps
- 3.01
- Annualized roe
- 26.6%
- Combined ratio
- 80.8%
- Net income yoy
- 27.0%
- Catastrophe losses
- 4452000
- Adjusted net income
- 81311000
- Stockholders equity
- 985000000
- Underwriting income
- 70156000
- Net investment income
- 22406000
- Prior year loss ratio
- 32.3%
- Gross written premiums
- 767046000
- Adjusted combined ratio
- 76.3%
- Adjusted net income yoy
- 47.4%
- Annualized adjusted roe
- 33.1%
- Net earned premiums yoy
- 62.3%
- Cash and invested assets
- $1.8 billion
- Adjusted underwriting income
- 86472000
- Quarterly dividend per share
- 0.45
AI analysis
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